You might be unaware of the fact that there is another form of currency rather than the usual paper currency or the mobile wallets. This currency is called cryptocurrency (decentralized digital money). It’s not a physical currency or some kind of coins or notes that can be held in hands, rather it is a digital asset which can be exchanged to purchase goods and what not.
Bitcoin
There are many different types of cryptocurrencies namely Litecoin, Ripple, Monero, Doge coin etc. But the most famous one is BITCOIN. Invented by Satoshi Nakamoto, this bossy digital currency as of February 2020, is worth $8584 per coin which is equivalent to 6.22 lacs of the Indian currency.
BITCOIN, abbreviated as BTC, originated in January 2009 and literally worth not even a penny until 2011 when it finally rose up till $1.00 per coin but the journey just started here. This coin made its way to its peak worth of approximately $20,000 in late 2017’s and was ruling the crypto market like no other.
This gradual increase in the bitcoin price (difference of about $11,000 in just a year) of this currency attracted audience and investors to invest much larger amount so that they can bag huge profits once the price hikes. With a supply limit of 21,000,000 coins, this currency has faced many ups and downs in its worth. The price of each coin faces this gradual ups and downs depending upon the demand and usage of these coins to process a transaction.
Is It Worth Investing?
Yes, these currencies are really worth investing into, just because of the fact that these are one of the safest payment methods and the worth of each of these coins is gradually increasing with time. The only trick to gain huge amount of profits is crypto mixing and to buy these coins at a lower price and then waiting for the price to rise much higher before selling them.
The main key to earn the maximum profit is to invest smartly, efficiently and of course, patiently!
Conclusion
Bitcoin has attracted a lot of interest and become increasingly popular. Since its creation, the most well-known cryptocurrency, Bitcoin, has seen a tremendous increase in value. Some people find the idea of investing in cryptocurrencies to be intimidating, but the possibility for enormous returns is also a big draw. But it’s crucial to remember that there are risks involved with investing in cryptocurrencies and that their value can be very unstable. The practise of providing anonymity and privacy to cryptocurrency transactions is known as “crypto mixing,” and it is becoming more and more significant in the cryptocurrency community. With something as erratic as bitcoin, it is extremely crucial to invest wisely, effectively, and patiently. It’s essential to educate oneself about the market and the hazards associated with cryptocurrency investment. While investing in cryptocurrencies can be a novel and exciting experience, it is vital to proceed carefully and always conduct extensive research before making any financial commitments.